This is what you need to know to trade today Wednesday, December 23:
The dollar is on the defensive, ignoring President Donald Trump’s rejection of a crucial part of the stimulus bill as tensions over the tension caused by the covid decrease. Optimism about an imminent Brexit deal and a data-packed day await traders.
Is the US fiscal stimulus at risk? President Donald Trump called the aid package that Congress approved a “disgrace,” referring specifically to the checks sent to all Americans, the most symbolic part of the $ 900 billion package. He wants it increased from $ 600 to $ 2,000.
The House Democrats support the extra money, which puts Republicans in trouble. Trump stopped short of saying that he would veto the hard-fought bill. The uncertainty partially weighed on the market’s mood. However, the US dollar is retreating from the highs. Gold, which jumped on Monday after the parties reached a deal, is retreating.
New strain of coronavirusScientists seem to agree that the vaccines will work against the new variant of the coronavirus discovered in the UK, improving market sentiment. Pfizer said that if needed, it could tailor its immunization in six weeks.
France agreed to open its border with Britain to trucks and passengers from the EU, conditional on a rapid coronavirus test. The Franco-British agreement is intended to dissolve the huge traffic jam leading to the port of Dover.
BrexiEU chief negotiator Michel Barnier said the talks are at a “crucial point” eight days from the end of the transition period. It is haggling with member states and the UK over a fishing deal. Some speculate that a deal could be reached on Wednesday, while a delay or a no-deal Brexit is also at stake. GBP / USD is trading above 1.34.
The day before Christmas Eve is packed with data on the economic calendar. Weekly jobless claims are expected to remain at a high level of 885,000 for another week. Durable goods order numbers for November are also estimated to show a moderate increase. On the other hand, both personal expenses and personal income are expected to have decreased in the past month.
See: Forecast for US Durable Goods Demands: Long-term investment likely to be a forward momentum, positive for the dollar
Cryptocurrencies: XRP extends its collapse after a lawsuit from the US Securities and Exchange Commission Bitcoin is trading near $ 24,000.
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